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Baytex Energy Corp T.BTE

Alternate Symbol(s):  BTE

Baytex Energy Corp. is a Canada-based energy company. The Company is engaged in the acquisition, development and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States. Its crude oil and natural gas operations are organized into three main operating areas: Light Oil USA (Eagle Ford), Light Oil Canada (Pembina Duvernay / Viking) and Heavy Oil Canada (Peace River / Peavine / Lloydminster). Its Eagle Ford assets are located in the core of the liquids-rich Eagle Ford shale in South Texas. The Eagle Ford shale covers approximately 162,000 net acres of crude oil operations. Its Viking assets are located in the Dodsland area in southwest Saskatchewan and in the Esther area of southeastern Alberta. It also holds 100% working interest land position in the East Duvernay resource play in central Alberta.


TSX:BTE - Post by User

Post by Wildfuryon Oct 26, 2021 10:39pm
403 Views
Post# 34053123

$100 oil is now inevitable

$100 oil is now inevitable
$100 Oil Is No Longer An Outrageous Prediction A triple-digit oil price is no longer an outrageous prediction as it would have been in early 2020. Francisco Blanch, global head of commodities and derivatives research at Bank of America, expects oil to hit $100 by September 2022, or even earlier if this winter is much colder than expected. Demand is coming back, while we have seen severe underinvestment in supply the last 18 months, Blanch told Bloomberg at the end of September. The underinvestment problem cannot be solved easily, and at the same time we have surging demand, he said. We are moving into a straightjacket for energy, we dont want to use coal, we want to use less and less gas, we want to move away from oil, Blanch told Bloomberg. While oil is unlikely to sit at triple digits for a sustained period of time, underinvestment has become a multi-year problem for the industry, Blanch noted. Even if oil doesnt stay at $100 a barrel, a supply crunch down the road would nevertheless move the floor under oil prices higher and lead to unsustainable price spikes. As much as climate activists want a stop to investment in new supply, the industry and the world cannot afford it because oil demand continues to grow. By Tsvetana Paraskova for Oilprice.com
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